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Geek Vibes Nation
6 days ago
- Business
- Geek Vibes Nation
Advancements In Bitcoin's Lightning Network
Photo by Mariia Shalabaieva on Unsplash If you think Bitcoin is just a slow old coin sitting pretty at the top, well, it is. But let's not get into how many transactions Bitcoin manages per second (around 7 per second; we couldn't help ourselves). But with the Lightning Network, think again. They've already processed over 100 million transactions in Q1 2025, increasing 28% from Q4 2024. A lot of crypto experts are attributing the lightning speeds (hence the name of the network) to the current Bitcoin price live , sitting at $109,219 at the time of writing. The Lightning Network proves that Bitcoin can move fast, scale better, and power up. This isn't just some off-chain experiment. It's a full-on upgrade that's been quietly growing into something that could change everything. If you've been wondering how Bitcoin plans to handle more users, faster transactions, and lower fees, all while staying decentralized, then read on to learn about the Lightning Network. The Lightning Network is where it's happening. Advancements in Bitcoin's Lightning Network Back in the early days, Bitcoin was cool but clunky. Everyone loved to hate it. It's the OG coin, but it ran so slow, it was initially expensive (and still sort of is compared to other networks), and as cryptocurrency grew and new ledgers formed, Bitcoin became plum last for slow speeds. The whole world wanted to use it, but the poor network just couldn't keep up. Slow speeds. High fees. Long waits. That's where the Lightning Network came in. It's a second-layer solution built on top of Bitcoin . Think of it as the fast lane. It lets users set up payment channels that don't require every transaction to hit the main chain. Instead, you zip your payments through these channels and settle up later. Simple. Developed in 2016 by Joseph Poon and Thaddeus Dryja, the Lightning Network is all about efficiency. And it's working. In September 2024, it had a capacity of 5,382 BTC across thousands of active channels, a big increase from the year before. And we gave you the numbers in the introduction, and the numbers never lie. The network isn't perfect. There's still the risk of fraud, hacks, and congested nodes. But the point is this: it's improving. And if Bitcoin wants to scale for the future, Lightning might be the power-up it needs. Bitcoin's Lightning Network: The Recent Updates Let's talk numbers (again). Since 2020, Lightning's capacity has surged 384%. That's not some fluke; that's institutional money, infrastructure upgrades, and a lot of bullish momentum. According to Fidelity Digital Assets, we're only seeing half the picture. Many Lightning channels are private, meaning actual network capacity could be nearly double what's reported. Public channels will hit over $500 million by January 2025. Add in the stealth activity, and you're looking at serious liquidity. And more institutions are watching. As routing fees drop and reliability climbs, they're starting to dip their toes in. With the right node setup, transaction fees can be as low as 0.04%. Then there's the speed. Payments under one million sats (roughly $1,000) settle in under a second. Bigger ones take around 7 seconds. Compare that to the legacy financial system, and it's a joke. Compare it to Bitcoin's original layer system, and it's still a joke. Lightning's upgrades aren't just about speed and fees. It's about scale. As Bitcoin's price goes up, so does Lightning's value. How the Network Benefits Users If you've ever waited an hour for a Bitcoin transaction to clear, the Lightning Network is basically your redemption arc. First off, it's fast. Really fast. We've already mentioned that. Instant transactions under a second are now common for small payments. That means you could buy a coffee with BTC and not be the weirdo holding up the queue. Then there's the fee structure. It's dramatically cheaper than on-chain Bitcoin transactions. Think fractions of a cent. That's what happens when you don't need to clog the main chain with every transaction. It's also more scalable. By moving thousands of tiny payments off-chain, the Lightning Network clears up space and makes Bitcoin more efficient. The network's overall reliability is now approaching the 95% mark, and with things like watchtowers and retries, we're getting closer to that mythical 100% success rate. Still, there's room for improvement. Channel management can be complex, and the Bitcoin difficulty rating was at 119.12 at the time of writing, up from 83.15 12 months ago. Inbound liquidity is still a pain. But the upside is huge. With the right setup, users can send and receive Bitcoin with near-zero friction, and that's game-changing. Getting the Most Out of the Bitcoin Network Bitcoin isn't valuable because it's shiny or rare. It's valuable because it has the strongest, most widely connected network in the digital asset space. The more people use it, the more useful it becomes. The Lightning Network amplifies that. Every new node, every payment channel, and every successful transaction make the whole system stronger. It's like compound interest for infrastructure. This is what separates Bitcoin from the rest. It's not just a coin—it's a protocol. A settlement layer. A foundation. The upgrades happening off-chain aren't side projects; they're part of the core vision. Bitcoin's community is building something that doesn't just work—it lasts. Bitcoin's Lightning Network isn't just about sending coins faster—it's about building a future. It's already faster. It's already cheaper. And now it's attracting institutions and developers who want to push it further. The Lightning Network is a glimpse into Bitcoin's next era. Caroline is doing her graduation in IT from the University of South California but keens to work as a freelance blogger. She loves to write on the latest information about IoT, technology, and business. She has innovative ideas and shares her experience with her readers.
Engadget
28-05-2025
- Business
- Engadget
Elon Musk's xAI is paying Telegram $300 million to adopt Grok
Unsplash/Mariia Shalabaieva Elon Musk's xAI is paying the messaging platform Telegram a cool $300 million to introduce the chatbot Grok to its users . The terms of the deal are extremely favorable to Telegram, as the $300 million only covers a single year and xAI will evenly split any subscription sales to Grok Premium and Premium+ with the messaging platform. Telegram will be paid in both cash and equity. To view this content, you'll need to update your privacy settings. Please click here and view the "Content and social-media partners" setting to do so. Telegram and xAI have agreed to a 1-year partnership to distribute Grok to Telegram's billion+ users and integrate it into its apps. Telegram will receive $300M in cash and equity from xAI, plus 50% of revenue from xAI subscriptions sold via Telegram. Together, we win! ❤️📈🏆 — Pavel Durov (@durov) May 28, 2025 This will introduce Grok to gobs of new people, as Telegram boasts over one billion monthly users. X, on the other hand, handles half that amount. X leverages public posts from users to train Grok, though not in the EU , and it remains to be seen if the deal includes language to do the same thing with Telegram. The platform includes a feature called Channels that's sort of like a social media network, which could house data that's ripe for the picking. Engadget reached out to Telegram to ask about Grok and training data and will update this post if we hear back. Both companies have remained mum on this question to other publications, like Reuters . It's worth noting that AI companies are running out of easily accessible data troves .
